Jeera prices up 73% since January 2023 amid rising demand, supply shortage

The rally has been primarily driven by a demand and supply shortage while some traders said speculation is also playing a part

Jeera July futures in NCDEX touched a record high of Rs. 58,085 per quintal on Monday, before coming down to around Rs. 55,500 on Tuesday.

This was due to profit booking and extension of additional surveillance margin of 2.5 per cent till July 18, including on all contracts to be launched in the future.

The softening, according to some reports, is also because of fears of regulatory action on jeera traders over allegations of excessive speculation.

Jeera crop has been on fire since the start of this year, soaring almost 55 per cent during the April-June quarter till June 27. The prices have jumped a whopping 73 per cent since January.